Elizabeth Warren Raises $12.1 Million In Third Quarter

Massachusetts Democratic U.S. Senate candidate Elizabeth Warren announced Monday that her campaign raised more than $12.1 million in the third quarter.

The campaign said that it raised over $7 million in September alone. It also said that 80 percent of donations were $50 or less, and more than half were $25 or less.

The numbers represent a staggering amount in the nation's most expensive U.S. Senate race, where Warren has raised more than any Congressional candidate. Warren and Sen. Scott Brown (R-Mass.) have also agreed not to allow third-party groups to run ads, which have blanketed airwaves in other states like Ohio and Virginia.

Warren has consistently outraised Brown in quarters, though he started out with a huge cash-on-hand advantage leftover from his 2010 special election. Warren's campaign did not release its cash-on-hand figure.

“Tens of thousands of people across Massachusetts have joined this campaign because they know that Elizabeth will fight for them in the U.S. Senate,” said Michael Pratt, Warren's finance director, in a statement Monday. “While Scott Brown has stood with billionaires, big oil and Wall Street -- and supports Republican control of the Senate -- Elizabeth Warren has been there for middle class families and small businesses. This strong support will help propel the campaign to victory in November.”

This post has been updated to include Brown's third quarter numbers.

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Introduces Financial Product Safety Commission

Elizabeth Warren announced a bill creating a Financial Product Safety Commission with House and Senate Democrats in March 2009. The body was designed to have oversight over mortgages and other financial instruments to protect consumers against predatory practices. She said if the agency had existed before the subprime collapse then "there would have been millions of families who got tangled in predatory mortgages who never would have gotten them." HuffPost's Ryan Grim reported:
Without all these toxic assets on banks' balance sheets, the institutions wouldn't be on the brink of collapse and the recession would be more manageable. "Consumer financial products were the front end of the destabilization of the American economic system."
Sen. Charles Schumer's cosponsorship of the bill is notable because of his proximity to Wall Street. The bill's merit, the New York Democrat said, is that it regulates the actual financial product rather than the company producing it.